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6/21/16

Brexit Causes Fed To Pause


http://youtu.be/F3sea0aEsFc
as the Federal Reserve looks for confirmation that the country's economic recovery remains on track, Fed Chair Janet Yellen said on Tuesday, global risks and a U.S. hiring slowdown warrant a cautious approach to raising interest rates. In prepared testimony before the Senate Banking Committee, Yellen outlined how the central bank was thrown off course within weeks of raising rates last December. A slowdown in domestic growth and international events, including concerns over China's economy and a further collapse in oil prices, were to blame. In comments that seemed to signal no pressing need for the Fed to raise rates, , Yellen said some of those clouds remain. She said the Fed needs to be sure U.S. economic growth and hiring have rebounded and there is no shock from the outcome of Britain's June 23 vote on whether to leave the European Union. This before a further tightening of monetary policy. http://bit.ly/28NWSne http://bit.ly/1fJ5yqZ This video was produced by YT Wochit News using http://wochit.com


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